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Bitcoin, Ethereum and Blockchain
Chris Castiglione
Digital Literacy at Columbia University
School of Business
WHAT IS BITCOIN?
Bitcoin is two things: digital currency and a technology.
BITCOIN IS NOT A PHYSICAL COIN
The U.S Dollar is already a digital currency
$60 trillion dollars
MONEY SUPPLY
$60 trillion dollars
$6 trillion is in cash or coins
MONEY SUPPLY
$60 trillion dollars
$6 trillion is in cash or coins
Which Means that…
10% of money is physical money
MONEY SUPPLY
$60 trillion dollars
$6 trillion is in cash or coins
Which Means that…
10% of money is physical money
Therefore, 90% of al...
$60 trillion dollars
$6 trillion is in cash or coins
Which Means that…
10% of money is physical money
Therefore, 90% of al...
90% OF MONEY IS
A DIGITAL CURRENCY ON A LEDGER
Controlled by a central authority
“Standard” fees apply
Prone to fraud
Controlled by the network
Lower fees
Higher securit...
“Saying Bitcoin is like digital money is like
saying the internet is a fancy telephone.”
- Andreas Antonopoulos
HOW DOES THE BITCOIN
TECHNOLOGY WORK?
Decentralization: No permission is needed from a central
authority to post anything on the web, there is no central
contro...
Bitcoin is maintained on a file called a ledger
Bitcoin is maintained on a file called a ledger
BLOCKCHAIN
is one particular type of distributed ledger.
BLOCKCHAIN
a combination of proven technologies applied in a new way.
1. Private Key Cryptography
2. P2P Network
3. The Bl...
BLOCKCHAIN
1. Private Key Cryptography
BLOCKCHAIN
2. The P2P Network
Centralized Control
Distributed Control
BLOCKCHAIN
3. The blockchain protocol
is that it allows many entities who do not know one another to reliably
reach consensus about the state of the bitcoin blo...
THE TECHNOLOGY OF THE INTERNET
HAS CENTRALIZATION PROBLEMS,
BLOCKCHAIN PROPOSES A SOLUTION
ARPANET IN DECEMBER 1969
ARPANET IN 1970
ARPANET GOES INT’L 1973
THE GLOBAL INTERNET IN 1993
CONFLICTING DIAGRAMS
THE PRIVATIZATION OF THE INTERNET BACKBONE
TOP ISPS BY STATE
TOP LEVEL
DOMAINS
BLOCKED
CENSORSHIP
INTERNET ACCESS DISRUPTED IN 2008
WHERE DID BITCOIN COME FROM?
Digicash (1990)
Hashcash (1997)
B-Money (1998) 



BitGold (1998)
DIGITAL CURRENCIES BEFORE BITCOIN
Satoshi Nakamoto released a
Bitcoin white paper in 2008.
The 8 page paper announced the
vision for a decentralized digital...
2009
In January 2009, the bitcoin network came into existence with the
release of the first open source bitcoin client and...
The First Bitcoin Transaction
2010
The First Bitcoin Transaction
On May 22nd 2010, 

Laszlo Hanyecz paid 

10,000 BTC 

for two Papa John’s pizzas.
2010
$50,000,000+
2010
FEBRUARY 2011
1 BTC = $1 USD
JUNE 2011
In June 2011 Wikileaks began to accept bitcoins for donations.
1 BTC = $250 USD
APRIL 2013
1 BTC = $1200 USD
NOVEMBER 2013
DECEMBER 2013
Mt. Gox - a bitcoin exchange based in Tokyo, Japan.
Was handling over 70% of all bitcoin transactions
worldw...
MARCH 2014
Mt. Gox announced that approximately
850,000 bitcoins belonging to customers
and the company were missing and l...
MARCH 2014
JULY 2015
In November 2012, WordPress had started
accepting bitcoins.
In December 2013, Overstock.com
In July 2014 Newegg ...
AUGUST 2016
In August 2016, a major bitcoin exchange,
Bitfinex, was hacked and nearly 120,000
BTC (around $60m) was stolen.
AUGUST 2017
On August 1st, 2017 bitcoin split into two
derivative digital currencies, the classic
bitcoin (BTC) and the Bi...
WHO’S USING BITCOIN?
EARLY DAYS, THE ROADS ARE BEING BUILT
overstock.com
expedia.com
newegg.com
Shopify Stores
Dish
Wordpress Sites
“WE WANT TO MAKE DUBAI THE FIRST BLOCKCHAIN-POWERED
GOVERNMENT IN THE WORLD BY 2020,”
-Aisha Bin Bishr, director general o...
PUBLIC KEYS
A public key is your Bitcoin address
PRIVATE KEYS
Do you own Bitcoin?
The truth is, you never own bitcoin.
All you own is a private key
A private key is a secret number that allows bitcoins to be spent.
A private key in the context of Bitcoin is a secret
number that allows bitcoins to be spent.
5HpHagT65TZzG1PH3CSu63k8DbpvD...
COINBASE KEEPS YOUR
PRIVATE KEYS
COINBASE KEEPS EVERYONE’S
PRIVATE KEYS
NEVER LEAVE YOUR MONEY
AT THE EXCHANGE
1. Hackers
2. Government regulation
3. The exchange itself
Exchanges are vulnerable to:
EXCHANGES ARE VULNERABLE TO
1. Hackers
EXCHANGES ARE VULNERABLE TO
1. Hackers
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
• June 24, 2015
• a business license of virtual
currency activities
•...
EXCHANGES ARE VULNERABLE TO
2. Government regulation
EXCHANGES ARE VULNERABLE TO
2. Government regulation
WATERMARK
WATERMARK
WATERMARK
WATERMARK
EXCHANGES ARE VULNERABLE TO
3. The exchange
EXCHANGES ARE VULNERABLE TO
3. The exchange
• Connected to the Internet
• Centralized
• The exchange holds your public key
HOT WALLET COLD STORAGE
• Not connected to ...
WARM WALLET?
Trezor.io
COLD WALLET
aunt knuckle italics moisture hawk thorn iris abort
chlorine smog uphill glass aptitude nowhere
sewa...
HOW NOT TO LOSE YOUR COINS
1. MOVE MONEY INTO YOUR
COLD STORAGE WALLET
2. HAVE A BACKUP OF
YOUR PASSWORD
& CHECK ON YOUR
BACKUPS
3. USE A PASSWORD
MANAGER
4. USE 2-FACTOR
AUTHENTICATION
1. Move money into your cold storage wallet
2. Check on your backups
3. Use a password manager
4. Use 2-Factor authenticat...
THE DECENTRALIZED WEB
ARPANET IN DECEMBER 1969
ARPANET IN 1970
ARPANET GOES INT’L 1973
By October of 1990, Tim had written the three
fundamental technologies that remain the foundation of
today’s web (and whic...
Decentralization: No permission is needed from a central
authority to post anything on the web, there is no central
contro...
THE GLOBAL INTERNET IN 1993
THE PRIVATIZATION OF THE INTERNET BACKBONE
THE BIG THREE
MUSIC'S LOST DECADE: SALES CUT IN HALF
WHAT’S THE PROBLEM
WITH MONEY?
1. CURRENCY IS NOT STABLE
Indian Prime Minister
Narendra Modi has
announced that the 500
($7.60) and 1,000 rupee
banknotes will be withdrawn
from th...
The pound's dramatic fall
started overnight as the
outcome of the referendum
became clear.
At one stage, it hit $1.3236,
a...
China’s central bank devalued
the country’s currency, the
renminbi, by about 2%
against the U.S. dollar.
Aug 11, 2015
CHIN...
2. CENTRAL BANKS HAVE TO CLEAR
OUR TRANSACTIONS
ALTCOINS
CRYPTOCURRENCIES
ALTCOINS
Bitcoin
(BTC)
BITCOIN • Supply: 21 million bitcoins mined by 2140
• Smallest unit: 1 Satoshi = 0.00000001 BTC
• Speed: New...
Bitcoin
(BTC)
Litecoin
(LTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Bitcoin
(BTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Litecoin
(LTC)
Bitcoin
(BTC)
Litecoin
(LTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Bitcoin
(BTC)
Litecoin
(LTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Litecoin
(LTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Bitcoin
(BTC)
Litecoin
(LTC)
Bitcoin Cash
(BCH)
Dash

(DASH)
Monero

(XMR)
Zcash

(ZEC)
Ripple

(XRP)
CRYPTOCURRENCIES
Bitcoin
(BTC)
TOKENS
Ethereum 

(ETH)
ETHEREUM
• Ether (ETH) is the token
• Used for writing smart contracts
Ethereum 

(ETH)
Ethereum Classic

(ETC)
ETHEREUM VS. ETHEREUM CLASSIC
SMART CONTRACTS
If thiS -> then that
SMART CONTRACTS
SMART CONTRACTS
If thiS
-> then that
SMART CONTRACTS
If thiS
-> then that
DAPPS
DAPPS
DAPPS
TOKENS
ICOS
& INVESTING IN CRYPTO
• There will only ever be 21 million bitcoins mined
• By 2140
• Deflationary
WHY IS BITCOIN SO VALUABLE?
HTTPS://BLOCKCHAIN.INFO/ADDRESS/
17XNHWPPUSDH5FJEJRETRUV4G3WY1QGSC3
SHOULD I BUY BITCOIN?
• Where to purchase bitcoin
• How to store bitcoin
• Why it exists
“SHOULD I BUY [SOME NAME OF ASSET]?”
Before you buy bit...
GO TO AN EXCHANGE
THE 5 TYPES OF
PEOPLE INVESTED IN BITCOIN
1. User
2. Miner
3. Developer
4. Investor
5. Business Owner
5 TYPES OF PEOPLE
WANT TO LEARN MORE ABOUT
BITCOIN, BLOCKCHAIN & ETHEREUM?
One Month Bitcoin & Ethereum (Online Course) 

https://onemonth.com/courses/bitcoin
The Rise and Rise of Bitcoin (Document...
JOIN COINBASE NOW AND
GET $10 OF FREE BITCOIN
One Month Bitcoin & Ethereum (Online Course) 

https://onemonth.com/courses/bitcoin




LEARN ONLINE WITH ONE MONTH
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School
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Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School

Bitcoin is two things: a digital currency AND a new technology.
In this course I'll give you the tools to think intelligently about the technology of Bitcoin, and the skills to buy, trade, and store your digital currencies.

Online course:
https://onemonth.com/courses/bitcoin

Bitcoin vs. Ethereum
https://learn.onemonth.com/bitcoin-vs-ethereum/

Join Coinbase
https://www.coinbase.com/join/5341c04e2e00c46d2100006c


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Bitcoin, Ethereum, and Blockchain - Digital Literacy @ Columbia University Business School

  1. 1. Bitcoin, Ethereum and Blockchain Chris Castiglione Digital Literacy at Columbia University School of Business
  2. 2. WHAT IS BITCOIN?
  3. 3. Bitcoin is two things: digital currency and a technology.
  4. 4. BITCOIN IS NOT A PHYSICAL COIN
  5. 5. The U.S Dollar is already a digital currency
  6. 6. $60 trillion dollars MONEY SUPPLY
  7. 7. $60 trillion dollars $6 trillion is in cash or coins MONEY SUPPLY
  8. 8. $60 trillion dollars $6 trillion is in cash or coins Which Means that… 10% of money is physical money MONEY SUPPLY
  9. 9. $60 trillion dollars $6 trillion is in cash or coins Which Means that… 10% of money is physical money Therefore, 90% of all money is nothing more than entries in a computer server. MONEY SUPPLY
  10. 10. $60 trillion dollars $6 trillion is in cash or coins Which Means that… 10% of money is physical money Therefore, 90% of all money is nothing more than entries in a computer server. MONEY SUPPLY
  11. 11. 90% OF MONEY IS A DIGITAL CURRENCY ON A LEDGER
  12. 12. Controlled by a central authority “Standard” fees apply Prone to fraud Controlled by the network Lower fees Higher security BTC Banking
  13. 13. “Saying Bitcoin is like digital money is like saying the internet is a fancy telephone.” - Andreas Antonopoulos
  14. 14. HOW DOES THE BITCOIN TECHNOLOGY WORK?
  15. 15. Decentralization: No permission is needed from a central authority to post anything on the web, there is no central controlling node, and so no single point of failure.
  16. 16. Bitcoin is maintained on a file called a ledger
  17. 17. Bitcoin is maintained on a file called a ledger
  18. 18. BLOCKCHAIN is one particular type of distributed ledger.
  19. 19. BLOCKCHAIN a combination of proven technologies applied in a new way. 1. Private Key Cryptography 2. P2P Network 3. The Blockchain Protocol
  20. 20. BLOCKCHAIN 1. Private Key Cryptography
  21. 21. BLOCKCHAIN 2. The P2P Network Centralized Control Distributed Control
  22. 22. BLOCKCHAIN 3. The blockchain protocol
  23. 23. is that it allows many entities who do not know one another to reliably reach consensus about the state of the bitcoin blockchain. BITCOIN'S INNOVATION
  24. 24. THE TECHNOLOGY OF THE INTERNET HAS CENTRALIZATION PROBLEMS, BLOCKCHAIN PROPOSES A SOLUTION
  25. 25. ARPANET IN DECEMBER 1969
  26. 26. ARPANET IN 1970
  27. 27. ARPANET GOES INT’L 1973
  28. 28. THE GLOBAL INTERNET IN 1993
  29. 29. CONFLICTING DIAGRAMS
  30. 30. THE PRIVATIZATION OF THE INTERNET BACKBONE
  31. 31. TOP ISPS BY STATE
  32. 32. TOP LEVEL DOMAINS
  33. 33. BLOCKED
  34. 34. CENSORSHIP
  35. 35. INTERNET ACCESS DISRUPTED IN 2008
  36. 36. WHERE DID BITCOIN COME FROM?
  37. 37. Digicash (1990) Hashcash (1997) B-Money (1998) 
 
 BitGold (1998) DIGITAL CURRENCIES BEFORE BITCOIN
  38. 38. Satoshi Nakamoto released a Bitcoin white paper in 2008. The 8 page paper announced the vision for a decentralized digital currency. 2008 BITCOIN WHITE PAPER
  39. 39. 2009 In January 2009, the bitcoin network came into existence with the release of the first open source bitcoin client and the issuance of the first bitcoins, with Satoshi Nakamoto mining the first block of bitcoins ever (known as the genesis block), which had a reward of 50 bitcoins.
  40. 40. The First Bitcoin Transaction 2010
  41. 41. The First Bitcoin Transaction On May 22nd 2010, 
 Laszlo Hanyecz paid 
 10,000 BTC 
 for two Papa John’s pizzas. 2010
  42. 42. $50,000,000+ 2010
  43. 43. FEBRUARY 2011 1 BTC = $1 USD
  44. 44. JUNE 2011 In June 2011 Wikileaks began to accept bitcoins for donations.
  45. 45. 1 BTC = $250 USD APRIL 2013
  46. 46. 1 BTC = $1200 USD NOVEMBER 2013
  47. 47. DECEMBER 2013 Mt. Gox - a bitcoin exchange based in Tokyo, Japan. Was handling over 70% of all bitcoin transactions worldwide, as the world's leading bitcoin exchange
  48. 48. MARCH 2014 Mt. Gox announced that approximately 850,000 bitcoins belonging to customers and the company were missing and likely stolen, an amount valued at more than $450 million at the time
  49. 49. MARCH 2014
  50. 50. JULY 2015 In November 2012, WordPress had started accepting bitcoins. In December 2013, Overstock.com In July 2014 Newegg and Dell started accepting bitcoin. As of August 2015 it was estimated that 160,000 merchants accept bitcoin payments
  51. 51. AUGUST 2016 In August 2016, a major bitcoin exchange, Bitfinex, was hacked and nearly 120,000 BTC (around $60m) was stolen.
  52. 52. AUGUST 2017 On August 1st, 2017 bitcoin split into two derivative digital currencies, the classic bitcoin (BTC) and the Bitcoin Cash (BCH). vs.
  53. 53. WHO’S USING BITCOIN?
  54. 54. EARLY DAYS, THE ROADS ARE BEING BUILT
  55. 55. overstock.com expedia.com newegg.com Shopify Stores Dish Wordpress Sites
  56. 56. “WE WANT TO MAKE DUBAI THE FIRST BLOCKCHAIN-POWERED GOVERNMENT IN THE WORLD BY 2020,” -Aisha Bin Bishr, director general of Smart Dubai “THE AIM IS TO REPLACE PAPER-BASED CONTRACTS WITH SMART CONTRACTS THAT WILL HELP REDUCE COMPLEX DOCUMENTATION FOR THE TRACKING, SHIPPING AND MOVEMENT OF GOODS,”
  57. 57. PUBLIC KEYS
  58. 58. A public key is your Bitcoin address
  59. 59. PRIVATE KEYS
  60. 60. Do you own Bitcoin?
  61. 61. The truth is, you never own bitcoin. All you own is a private key
  62. 62. A private key is a secret number that allows bitcoins to be spent.
  63. 63. A private key in the context of Bitcoin is a secret number that allows bitcoins to be spent. 5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreKamq6aB
  64. 64. COINBASE KEEPS YOUR PRIVATE KEYS
  65. 65. COINBASE KEEPS EVERYONE’S PRIVATE KEYS
  66. 66. NEVER LEAVE YOUR MONEY AT THE EXCHANGE
  67. 67. 1. Hackers 2. Government regulation 3. The exchange itself Exchanges are vulnerable to:
  68. 68. EXCHANGES ARE VULNERABLE TO 1. Hackers
  69. 69. EXCHANGES ARE VULNERABLE TO 1. Hackers
  70. 70. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  71. 71. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  72. 72. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  73. 73. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  74. 74. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  75. 75. EXCHANGES ARE VULNERABLE TO 2. Government regulation • June 24, 2015 • a business license of virtual currency activities • Benjamin Lawsky (NYSDFS) Bitlicense
  76. 76. EXCHANGES ARE VULNERABLE TO 2. Government regulation
  77. 77. EXCHANGES ARE VULNERABLE TO 2. Government regulation WATERMARK WATERMARK WATERMARK WATERMARK
  78. 78. EXCHANGES ARE VULNERABLE TO 3. The exchange
  79. 79. EXCHANGES ARE VULNERABLE TO 3. The exchange
  80. 80. • Connected to the Internet • Centralized • The exchange holds your public key HOT WALLET COLD STORAGE • Not connected to the Internet • Distributed (or not-centralized) • You now your public key
  81. 81. WARM WALLET?
  82. 82. Trezor.io COLD WALLET aunt knuckle italics moisture hawk thorn iris abort chlorine smog uphill glass aptitude nowhere sewage plywood dual relic fierce divers anvil nodes bubble cabin abort 24 word recovery seed 5HpHagT65TZzG1PH3CSu63k8DbpvD8s5ip4nEB3kEsreKamq6aB
  83. 83. HOW NOT TO LOSE YOUR COINS
  84. 84. 1. MOVE MONEY INTO YOUR COLD STORAGE WALLET
  85. 85. 2. HAVE A BACKUP OF YOUR PASSWORD & CHECK ON YOUR BACKUPS
  86. 86. 3. USE A PASSWORD MANAGER
  87. 87. 4. USE 2-FACTOR AUTHENTICATION
  88. 88. 1. Move money into your cold storage wallet 2. Check on your backups 3. Use a password manager 4. Use 2-Factor authentication HOW NOT TO LOSE YOUR COINS - A CHECKLIST
  89. 89. THE DECENTRALIZED WEB
  90. 90. ARPANET IN DECEMBER 1969
  91. 91. ARPANET IN 1970
  92. 92. ARPANET GOES INT’L 1973
  93. 93. By October of 1990, Tim had written the three fundamental technologies that remain the foundation of today’s web (and which you may have seen appear on parts of your web browser): HTML: HyperText Markup Language. The markup (formatting) language for the web. URI: Uniform Resource Identifier. A kind of “address” that is unique and used to identify to each resource on the web. It is also commonly called a URL. HTTP: Hypertext Transfer Protocol. Allows for the retrieval of linked resources from across the web. TIM BERNERS-LEE INVENTED THE WORLD WIDE WEB IN 1989.
  94. 94. Decentralization: No permission is needed from a central authority to post anything on the web, there is no central controlling node, and so no single point of failure … and no “kill switch”! This also implies freedom from indiscriminate censorship and surveillance. Non-discrimination: If I pay to connect to the internet with a certain quality of service, and you pay to connect with that or a greater quality of service, then we can both communicate at the same level. This principle of equity is also known as Net Neutrality. Bottom-up design: Instead of code being written and controlled by a small group of experts, it was developed in full view of everyone, encouraging maximum participation and experimentation. THE VISION OF THE WORLD WIDE WEB
  95. 95. THE GLOBAL INTERNET IN 1993
  96. 96. THE PRIVATIZATION OF THE INTERNET BACKBONE
  97. 97. THE BIG THREE
  98. 98. MUSIC'S LOST DECADE: SALES CUT IN HALF
  99. 99. WHAT’S THE PROBLEM WITH MONEY?
  100. 100. 1. CURRENCY IS NOT STABLE
  101. 101. Indian Prime Minister Narendra Modi has announced that the 500 ($7.60) and 1,000 rupee banknotes will be withdrawn from the financial system overnight. 9 November 2016 INDIA SCRAPS 500 & 1000 RUPEE BANK NOTE OVERNIGHT
  102. 102. The pound's dramatic fall started overnight as the outcome of the referendum became clear. At one stage, it hit $1.3236, a fall of more than 10%. 24 June 2016 POUND PLUNGES
  103. 103. China’s central bank devalued the country’s currency, the renminbi, by about 2% against the U.S. dollar. Aug 11, 2015 CHINA DEVALUES ITS CURRENCY BY 2%
  104. 104. 2. CENTRAL BANKS HAVE TO CLEAR OUR TRANSACTIONS
  105. 105. ALTCOINS
  106. 106. CRYPTOCURRENCIES
  107. 107. ALTCOINS
  108. 108. Bitcoin (BTC) BITCOIN • Supply: 21 million bitcoins mined by 2140 • Smallest unit: 1 Satoshi = 0.00000001 BTC • Speed: New tokens mined every 10 minutes • Governance: Users, Developers, Miners (95%) • Transaction Fees: Roughly 110 satoshis/byte • Block size: 2MB • Trajectory of Infrastructure: Allows mining and mining pools • Privacy: Transactions are listed publicly the blockchain • User-friendly: Yes
  109. 109. Bitcoin (BTC) Litecoin (LTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES
  110. 110. Bitcoin (BTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES Litecoin (LTC)
  111. 111. Bitcoin (BTC) Litecoin (LTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES
  112. 112. Bitcoin (BTC) Litecoin (LTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES
  113. 113. Litecoin (LTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES Bitcoin (BTC)
  114. 114. Litecoin (LTC) Bitcoin Cash (BCH) Dash
 (DASH) Monero
 (XMR) Zcash
 (ZEC) Ripple
 (XRP) CRYPTOCURRENCIES Bitcoin (BTC)
  115. 115. TOKENS
  116. 116. Ethereum 
 (ETH) ETHEREUM • Ether (ETH) is the token • Used for writing smart contracts
  117. 117. Ethereum 
 (ETH) Ethereum Classic
 (ETC) ETHEREUM VS. ETHEREUM CLASSIC
  118. 118. SMART CONTRACTS If thiS -> then that
  119. 119. SMART CONTRACTS
  120. 120. SMART CONTRACTS If thiS -> then that
  121. 121. SMART CONTRACTS If thiS -> then that
  122. 122. DAPPS
  123. 123. DAPPS
  124. 124. DAPPS
  125. 125. TOKENS
  126. 126. ICOS & INVESTING IN CRYPTO
  127. 127. • There will only ever be 21 million bitcoins mined • By 2140 • Deflationary WHY IS BITCOIN SO VALUABLE?
  128. 128. HTTPS://BLOCKCHAIN.INFO/ADDRESS/ 17XNHWPPUSDH5FJEJRETRUV4G3WY1QGSC3
  129. 129. SHOULD I BUY BITCOIN?
  130. 130. • Where to purchase bitcoin • How to store bitcoin • Why it exists “SHOULD I BUY [SOME NAME OF ASSET]?” Before you buy bitcoin (or any cryptocurrency) you should at least know
  131. 131. GO TO AN EXCHANGE
  132. 132. THE 5 TYPES OF PEOPLE INVESTED IN BITCOIN
  133. 133. 1. User 2. Miner 3. Developer 4. Investor 5. Business Owner 5 TYPES OF PEOPLE
  134. 134. WANT TO LEARN MORE ABOUT BITCOIN, BLOCKCHAIN & ETHEREUM?
  135. 135. One Month Bitcoin & Ethereum (Online Course) 
 https://onemonth.com/courses/bitcoin The Rise and Rise of Bitcoin (Documentary) 
 
 Tim Ferris Podcast Episode #244
 The Quiet Master of Cryptocurrency — with Nick Szabo This Week in Ethereum Newsletter 
 http://www.weekinethereum.com/
 
 You can purchase Bitcoin at Coinbase 
 coinbase.com 
 RESOURCES
  136. 136. JOIN COINBASE NOW AND GET $10 OF FREE BITCOIN
  137. 137. One Month Bitcoin & Ethereum (Online Course) 
 https://onemonth.com/courses/bitcoin 
 
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